Brambles (OTCMKTS:BXBLY) Shares Gap Up – What’s Next?

Brambles Ltd. (OTCMKTS:BXBLY) shares gapped up prior to trading on Monday . The stock had previously closed at $26.21, but opened at $27.87. Brambles shares last traded at $25.77, with a volume of 1,948 shares changing hands.

Wall Street Analyst Weigh In

BXBLY has been the subject of a number of research reports. Zacks Research cut Brambles from a “hold” rating to a “strong sell” rating in a research note on Friday, May 22nd. The Goldman Sachs Group raised Brambles to a “neutral” rating and set a $19.34 target price for the company in a report on Tuesday, May 19th. Finally, UBS Group upgraded Brambles from a “hold” rating to a “buy” rating in a research report on Monday, May 18th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Brambles currently has an average rating of “Hold” and an average price target of $19.34.

Brambles Trading Up 2.4%

The firm’s 50-day moving average price is $28.47 and its 200 day moving average price is $30.68.

Brambles Company Profile

Brambles Limited (OTCMKTS:BXBLY) is a global supply-chain logistics company headquartered in Sydney, Australia, best known for its pooled pallet and reusable packaging services. The company operates the CHEP brand for pallets and larger load-carrier solutions and the IFCO brand for reusable plastic crates, offering customers standardized, shared assets that move goods through retail, grocery, manufacturing and other supply chains.

Brambles’ core activities include the management, distribution and maintenance of pooled pallets, crates and containers; repair and refurbishment services; and logistics support such as asset tracking and inventory management.